CMX Dictionary

Operational Transparency is the concept that customers appreciate and value a product or service more when they can see and understand the processes involved in its creation or delivery.

The Cashless Effect is a spending behavior where people are more likely to spend or pay more when using cards or digital payments over cash.

The Halo Effect is a cognitive bias where one positive characteristic of a person, product, or brand significantly influences people to have a favorable overall impression of them.

The Gruen Effect refers to the phenomenon where an intentionally overwhelming and sensory-rich shopping environment causes consumers to make impulsive purchases.

The Authority Principle suggests that individuals are more likely to be persuaded or influenced by figures or entities perceived as authoritative or expert in a particular domain.

The Anchoring Effect is the cognitive bias where individuals heavily rely on the first piece of information they encounter (the "anchor") when making decisions.

Salience Bias refers to the tendency of individuals to focus on the most noticeable or important aspects of an experience, often overshadowing other relevant yet less prominent information.

Breakdown of the 70/20/10 learning model

The goal gradient hypothesis suggests that individuals are motivated to increase their effort as they approach a goal, which is employed in gamification elements like progress bars, badges, and profile completion percentages to enhance user engagement and task completion.

The Psychology of Precommitment suggests that by committing to a goal in advance, individuals are less likely to procrastinate and more likely to achieve the intended outcome.

Online communities can fall into the trap of designing a Town Hall, where there's a lot of public conversation and talk, but no action. 

The concept of "1000 True Fans" suggests that creators can achieve sustainable success by nurturing a core audience of 1000 deeply invested followers rather than aiming for mainstream appeal.

Nudges are gentle pushes or reminders that guide people toward making better decisions or engaging in more constructive ways.

The IKEA effect is a proven psychological bias theory that consumers put a higher value on what they help create.

The emotional quotient (EQ) trait model is a framework that assesses and categorizes emotional intelligence based on a set of core personality traits related to emotions.

Testing the concept in the context of strategy refers to the process of evaluating and validating a strategic idea or hypothesis through experimentation and data analysis before implementing it fully.

Technicalities and product development, in the context of strategy, involve the intricate details and processes associated with creating and improving products or services to meet strategic goals.

A target market, in the context of strategy, refers to a specific group of customers that a business or organization aims to reach and serve with its products or services.

Strategy basis refers to the underlying principles, frameworks, or approaches that guide the development and implementation of strategic plans and actions.

Strategic vision refers to a clear and inspiring long-term direction that guides an organization's goals, actions, and decision-making, providing a sense of purpose and direction.

Strategic risks refer to potential threats or uncertainties that can impact an organization's long-term goals, strategies, and overall performance.

Strategic planning is the process of setting goals, defining strategies, and allocating resources to achieve long-term objectives and drive organizational success.

Strategic initiatives refer to planned actions or projects undertaken by organizations to achieve specific goals and drive desired outcomes.

Strategic execution refers to the effective implementation of a strategic plan or initiative to achieve desired outcomes and organizational goals.

Strategic differentiation refers to the process of creating and emphasizing unique qualities or characteristics in order to distinguish oneself from competitors in a strategic manner.